Borr Drilling Limited (NYSE:BORR) Given Average Rating of "Moderate Buy" by Analysts

Borr Drilling Limited (NYSE:BORR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $5.2667.

Several analysts have recently issued reports on the stock. SEB Equity Research set a $3.55 price target on shares of Borr Drilling in a research report on Monday. Zacks Research raised shares of Borr Drilling to a "hold" rating in a report on Thursday, July 2nd. Wall Street Zen lowered Borr Drilling from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Weiss Ratings cut Borr Drilling from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, August 12th. Finally, Capital One Financial set a $6.00 target price on shares of Borr Drilling and gave the stock an "overweight" rating in a report on Wednesday, July 1st.

Borr Drilling Price Performance

Shares of NYSE:BORR opened at $4.40 on Thursday. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 2.58. The stock has a market cap of $1.39 billion, a PE ratio of -5.64 and a beta of 1.02. The stock's fifty day simple moving average is $4.25 and its two-hundred day simple moving average is $5.11. Borr Drilling has a 1-year low of $2.29 and a 1-year high of $6.66.

Borr Drilling (NYSE:BORR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.79) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.58). The business had revenue of $232.30 million for the quarter, compared to the consensus estimate of $245.96 million. Borr Drilling had a negative return on equity of 5.95% and a negative net margin of 23.98%. As a group, analysts forecast that Borr Drilling will post -0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thiago Mordehachvili sold 8,000,000 shares of Borr Drilling stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $4.70, for a total value of $37,600,000.00. Following the transaction, the director owned 38,199,677 shares in the company, valued at approximately $179,538,481.90. The trade was a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Currie acquired 125,000 shares of the stock in a transaction on Thursday, August 13th. The stock was bought at an average price of $4.01 per share, with a total value of $501,250.00. Following the transaction, the director directly owned 479,423 shares of the company's stock, valued at approximately $1,922,486.23. The trade was a 35.27% increase in their position. The disclosure for this purchase is available in the SEC filing. 7.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. DNB Asset Management AS grew its stake in shares of Borr Drilling by 126.4% in the 4th quarter. DNB Asset Management AS now owns 8,771,876 shares of the company's stock worth $35,351,000 after buying an additional 4,896,701 shares during the last quarter. Sona Asset Management US LLC purchased a new position in Borr Drilling during the third quarter valued at $17,180,000. Marshall Wace LLP boosted its holdings in Borr Drilling by 9,222.0% in the fourth quarter. Marshall Wace LLP now owns 4,573,837 shares of the company's stock worth $18,433,000 after acquiring an additional 4,524,772 shares in the last quarter. State Street Corp grew its stake in shares of Borr Drilling by 4.5% in the fourth quarter. State Street Corp now owns 4,212,987 shares of the company's stock worth $16,978,000 after acquiring an additional 180,141 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Borr Drilling by 1,025.5% in the first quarter. Millennium Management LLC now owns 3,810,556 shares of the company's stock worth $8,345,000 after acquiring an additional 3,471,979 shares during the last quarter. 83.12% of the stock is owned by hedge funds and other institutional investors.

About Borr Drilling

Borr Drilling is an international offshore drilling contractor providing premium jack-up drilling services to the oil and gas industry. Established in 2016 and incorporated in Bermuda with headquarters in Hamilton, the company is listed on the New York Stock Exchange under the ticker symbol BORR. Borr Drilling focuses exclusively on the ownership and operation of mobile offshore jack-up rigs, catering to exploration and production drilling projects in both mature and emerging hydrocarbon regions.

The company's core business activities encompass the long-term contracting of high-specification jack-up rigs suitable for shallow-to-intermediate water depths.

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